MVIS- Technical Analysis
The Technical Picture Has Improved
MVIS has formed a large symmetrical triangle. The current bottom of this pattern is at 3.00 After the Business Week article and video brought exposure and volume to the stock, a gap-up occurred. However, the gap was filled on Wednesday. Today MVIS regained the 50-day moving average. Both the MACD and RSI have turned up. For the reasons above, I am increasingly more bullish on MVIS. Should the stock close above the upper line of the triangle, or $3.50, I would be willing to state that the short-term downtrend has been broken. In the meantime, MVIS will trade within the decreasing range of the triangle. With the CEO being clear about inking a deal with a major cell phone company by Summer, I suspect the break of the triangle will be to the upside.
8 comments:
This is not bullish enough!
Erase this entire post and try again, chinlicker.
Buy some ONSM AHs and we will have a deal!
What is a chinlicker?
-mdaws
Oh, and I wanted to mention I like your blog because I actually got fired from my last job (attorney) for trading while in my office. Who knew the IT guys were watching my every move. Anyways, that's the way it goes sometimes. Now I live off the spoils of my account day trading, swing trading, options plays etc. It's interesting to see you doing it all, it can be a lot to manage sometimes. Good luck and don't get nailed for it!
-mdaws
Shedder-
When I first found out about MVIS back in September of last year I was more interested in the fundamentals of the stock and the AMAZING potential the company has if they can be commercially successfull. It wasnt until the little pop in November that MVIS got sexy from a technical standpoint. After haveing traded it a few times for a profit and learning a whole lot more about the company I think its wise to establish a long position and enjoy. I checked out the HQ back in January and was quite impressed. Those guys are a R&D powerhouse. Good things are comming.
ambient
Mdaws- Trading while working is a fucking awful lot to manage sometimes. What can I say, blood pressure meds work wonders.
My IT guys actually emailed here in Philly to make sure everything was working ok...now that is service. I couldn't do what I do without their support. Like I have written about, they have a very small clue what I do...However, I am always very kind and gracious whenever I deal with them or their boss, and I always sing their praises- ALWAYS. And small gifts don't hurt. I will knock on wood that what happened to you doesn't happen to me. By the way, are you still biased short in this market?
Also, a chinlicker is Broker A's failed attempt to combine "chinballs" with "dicklipper." I cannot be held responsible inept sense of humor.
Ambient- your blog articles are rocking. Keep it up.
Wood, you can call me a cautious bull. My experience is that markets can get overbought, no? When I act obnoxious on his blog it's just to incite violence and bust his balls. His chinballs.
-mdaws
"When I act obnoxious on his blog it's just to incite violence and bust his balls. His chinballs."
"His chinballs." That has a glorious ring to it....lol ROTFLMAO. That slayed me..
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